President Obama Seeks Energy Diversity

The president's weekly address focuses on domestic sources of energy.
4:14 | 03/24/12

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Transcript for President Obama Seeks Energy Diversity
-- -- -- This week I traveled across the country to talk about -- all of the above energy strategy for America. A strategy where we produce more oil and gas here at home but also more biofuels fuel efficient cars. More solar power and wind power and other sources of clean renewable energy. -- up you want to know by listening to some of the folks running for office after today. But producing more oil at home has been and will continue to be a key part of my energy strip. And my administration were producing more oil than any other time in the last eight years. We quadrupled the number of operating oil -- to a record high. And we've added enough oil and gas pipeline to circled the entire earth and then -- those of the facts. But as I've been saying all week even though America uses -- point percent of the world's or. We only have around 2% of the world's known oil reserves. So even if we drilled everywhere we'd still be relying on other countries for -- That's why we're pursuing an all of the above strategy were producing more biofuels. More fuel efficient cars more solar power more wind power. This week I was in Boulder City, Nevada where they've got the largest solar plant of its kind anywhere in the country. That's the future. I was at Ohio State University where they've developed the fastest electric car in the world. That's the future. I don't -- -- see these clean energy industries to China merger -- some other country. Policy solar panels and wind turbines and fuel efficient cars manufactured. Right here in America. By American workers. Now getting these clean energy industries to locate -- requires us to maintain a national commitment to new research and development. But it also requires us to build world class transportation and communications networks. So that any company can move goods and sell products all around the world as quickly and efficiently as possible. So much of America needs to be rebuilt right now we've got crumbling roads and bridges. Power grid that wastes too much and an incomplete high speed broadband network. We've got thousands of unemployed construction workers who been looking for job ever since the housing market collapsed. Once again were waiting on congress. -- -- in a matter of days funding will stop for all sorts of transportation projects. Construction sites were loyal. Workers what to go home. And our economy will take a hit. This congress cannot let that happen. At a time when we should be doing everything in our power Democrats and Republicans to keep this recovery moving four. The senate did their part they passed a bipartisan transportation. It had the support 52 Democrats and 22 Republicans. Now it's up to the house to follow -- To put aside partisan posturing. And the gridlock and do what's right for the American -- This is common sense. Right now all across this country we got contractors and construction workers who've never been more eager to get back on the job. A long term transportation bill would put them to work. And those are good jobs. We just released report shows nearly 90% of the construction manufacturing and trade jobs created through investments in transportation projects. -- middle class jobs. Those are exactly the jobs we need right now and -- make that economy stronger for everybody. We've done this before. During the Great Depression America built the Hoover Dam and the Golden Gate Bridge. After World War II we connected our states with a system of highways. Democratic and Republican administrations invested in great projects that -- at every -- From the workers -- actually built them to the businesses that still use them today. Still congress that if we invest in new technology new energy. In new roads and bridges and construction projects we can keep growing our economy. Put our people back to work and remind the world what the United States the greatest nation on. Banks have a great week.

This transcript has been automatically generated and may not be 100% accurate.

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